Junior Cert 2012: Business (HL) Paper Two

Music4Life085

Business (HL) Paper Two
Tuesday, June 12th
2:00 - 4:00

All discussion and questions about Business (HL) Paper Two goes here.

Good Luck! !

LauraIrl

Anybody have any predictions?

16349 Ex No

1. household budget (every single year)
2. consumer acts and a letter
3. club account (either p1 or p2)
4. balance sheet,trading a/c (never do this unless you are going to to do acc)
5. factors of land/national budget
6. industrial relations/insurance

Shane15

Can someone please help me? I can't figure out where/how you get the dividends declared from in the Trading, Profit & Loss Appropriation account.

Also, when in the balance sheet doing the Financed By, how do you work out the "Issued" bit of the ___,____ €1 ordinary shares.

Oozamine

Shane15 wrote: »

Can someone please help me? I can't figure out where/how you get the dividends declared from in the Trading, Profit & Loss Appropriation account.

Also, when in the balance sheet doing the Financed By, how do you work out the "Issued" bit of the ___,____ €1 ordinary shares.

Outside of the trial there would be an figure that says (eg) 8% dividends declared,you get 8% of your issued share capital the issued share capital will be given to you

They go into current liabilites in the balance sheet becuase you owe them to the shareholders and they go into you appropriation account,you take them away from your net profit

Shane15

Oozamine wrote: »

Outside of the trial there would be an figure that says (eg) 8% dividends declared,you get 8% of your issued share capital the issued share capital will be given to you

They go into current liabilites in the balance sheet becuase you owe them to the shareholders and they go into you appropriation account,you take them away from your net profit

Thanks:)

Junokevv

Shane15 wrote: »

Can someone please help me? I can't figure out where/how you get the dividends declared from in the Trading, Profit & Loss Appropriation account.

Also, when in the balance sheet doing the Financed By, how do you work out the "Issued" bit of the ___,____ €1 ordinary shares.

Apparently, Dividends Declared no longer come up. It is now just DIvidend Paid, which ONLY goes into the appropriation A\C.

Shane15

Junokevv wrote: »

Apparently, Dividends Declared no longer come up. It is now just DIvidend Paid, which ONLY goes into the appropriation A\C.

Oh ok, and do you add it or take it away? (for the Dividends Paid)

Junokevv

It's just like dividends declared in the Appropriation A/C; you take it away but you don't put it in the CL.

Oozamine

Always take away your dividends ! And if retained earnings is given inside the box you add that on !

So basically:
Netprofit
- divendends
= xxxxx
+ retained earning
= xxxxxx

Shane15

Alright got it, thanks!

Pen Rua

I just have to say, it's weird not seeing N_Bazinga (sorry if I got the name wrong!) posting these!

Music4Life085

Pen Rua wrote: »

I just have to say, it's weird not seeing N_Bazinga (sorry if I got the name wrong!) posting these!

I don't know what happened to them? :S I decided to help them out until they start again, its just that I needed help and it's easier when they are all in one forum? am I doing a good job :P?

Shane15

Nevermind got one. Good luck.

Hannah_2012

Any ideas on what to give a quick look over? I really wanna avoid accounting questions.

Shane15

Hannah_2012 wrote: »

Any ideas on what to give a quick look over? I really wanna avoid accounting questions.

I'd like to know as well, I'm not as prepared for P2.

Hannah_2012

Im just looking at past papers, seems to be a wide range of things apart from the accounts. Marketing, delivery systems, reports, forms of ownership and documents seem to come up a good bit. If you have past papers have a look at them. goodluck!:)

Shane15

Hannah_2012 wrote: »

Im just looking at past papers, seems to be a wide range of things apart from the accounts. Marketing, delivery systems, reports, forms of ownership and documents seem to come up a good bit. If you have past papers have a look at them. goodluck!:)

I hope reports come up, I know them well.. Good luck to you too

Shane15

Went pretty well, lol at cash flow account, I never done one in my life but it's almost exact to the budget!

DaleHyland

wass you answer by any chance 38900?

iliketwixbars

What a beaut of a paper :P.

DaleHyland

iliketwixbars wrote: »

What a beaut of a paper :P.

I feel like there going to murder us in the marking scheme though.

iWin1010

Easiest paper so far!!!:):):):)
Everything balanced: Bookkeeping
Trading, Profit & Loss
Cash flow.

It was so easy that I finished with 35+ to go.
THANK GOD IT'S DONE!!! I'M FREE!!!:D:D:D

Leinsterr

Did ANYONE get somethin like 432000 or 430200 for the balance sheet?????

blobcat

Fine except for the fact that I completely forgot how to do a trading profit and loss account! Should have revised it, but I thought I'd have another option. I literally just did sales, carriage inwards and depreciation in the hope that they'd give me some marks.

sportalade

It was Soooo easy!
I did Qs 1, 3, 4, 6 on Paper 1 and Qs 2, 3, 5, 6 on Paper 2 Dead simple!

ektec

yes...430200 for T and L ,B a/c

For the road transport short question will these be ok?
Variable - fuel
fixed- road tax

also lads I done the income and expenditure in the writing booklet..i didnt see the ruled pages..
i ruled them neathly, will i lose any marks?

Hannah_2012

It was alright, done pretty well on 3 questions, the report, document & cash flow forecast..ended up doing the books of first entry though, I had to rush it for the last half hour. It was grand till I got to the ledger & trial balance, thats where everything went wrong. :mad: I hate accounts.

iliketwixbars

ektec wrote: »

also lads I done the income and expenditure in the writing booklet..i didnt see the ruled pages..
i ruled them neathly, will i lose any marks?

Nope, that's grand.

iWin1010

Leinsterr wrote: »

Did ANYONE get somethin like 432000 or 430200 for the balance sheet?????

That's what I got!
I was so happy when it worked out in the exam!!:):):)

TheZestyLemon

Balancing the cash flow forecast does not mean you've gotten the correct answer.